Joe Biden took the country’s wheel on Wednesday. For some, it was a day of celebration. And for some, it was a day of mourning, depending on your political perspective. But what is really in store for us in the Biden years? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey considers the economic path that lies ahead. He argues that while the driver has changed, the car is still heading in the same direction with Biden’s foot on the accelerator.
Joe Biden was inaugurated on Jan. 20, becoming the 46th president of the United States. And as Peter Schiff put it in his podcast, he took the helm of a sinking ship.
President-elect Joe Biden unveiled his massive stimulus plan last week touted as the “American Rescue Plan.” In his podcast, Peter Schiff said it was more like throwing a drowning man an anchor.
Peter Schiff appeared on the Lions of Liberty podcast with Marc Clair to look back at the Trump economy and ahead to what the Biden years might bring. Along the way, Peter and Marc talk about the stock market bubble, Peter’s move to Puerto Rico, the looming dollar collapse, and bitcoin.
How will the outcome of the US election impact the price of gold moving forward?
Of course, there is no way to know for sure. US politics is just one of the myriad factors that influence the gold market and you never know how things will play out. But there are reasons to believe the future will remain bullish for the yellow metal no matter who ends up sitting in the Oval Office.
The FY2020 budget deficit came in at $3.13 trillion. At some point, the US government will have to reckon with the debt and spending. But according to recent analysis from the nonpartisan Committee for a Responsible Budget, neither Trump nor Biden appear prepared to do so. In fact, its analysis shows Trump would only be slightly better than Biden when it comes to spending and debt.
As we get closer to the 2020 election, analysts are starting to look at how various outcomes could affect the markets and the broader economy. Some of them are actually bullish on total Democratic Party control of the government.
In a recent podcast, Peter Schiff broke down what the analysts are saying and explains why he believes that the best possible outcome is gridlock.
Peter Schiff appeared on Kitco News with David Lin to talk about the investment implications of the upcoming US elections.
Peter said he doesn’t feel good about the election and that he thinks Biden will likely win. He said the Democrats may even gain control of the Senate. So, what would a Biden win mean for the economy?